Peter Nesbitt

• Proven track record in executive leadership, 26 years in Asia including eleven years in Singapore, seven in Bangladesh and eight in India; served as a Canadian Diplomat for 11 of these years in Asia.
• Diverse international banking background (commercial, trade finance, investment banking, export credit and retail). 
• Board experience and specialized director training in financial, audit and risk management. 
• Emerging market experience, planning and execution of business strategies.
• Experience building and leading high-performing cross-functional teams. 
• Established credit skills, risk management and compliance experience.
• Strong understanding and awareness of cultural competencies.
• Excellent communication and interpersonal skills.
• Project Management experience leading an innovative USAID monetized food-aid and development project.
• On-going guest lecturer on International Trade and Emerging Markets at Dalhousie University

Professional Experience 

ELEVATE CAPITAL (Jan 2023 – present)

President

Elevate Capital is a working capital solutions provider that is 100% focused on Canadian exporters.  The company was launched in January of 2023 and provides liquidity solutions to small and medium-sized exporters by purchasing foreign receivables.  As President, I set the company up and secured both investment capital and credit insurance to operate the business.  Elevate Capital is the first non-bank to obtain a Factoring Insurance Policy from Export Development Canada. 

CANADIAN COMMERCIAL CORPORATION (June 1, 2020 – Jan 2023)

Senior Director, International Financing 

Lead CCC's international financing strategy by leveraging relationships with global banks, export credit agencies, and insurance companies to source capital, structure, and secure purpose-driven financing solutions that help Canadian exporters sell products and services to foreign governments.  

Success was realized by 1) working closely with CCC's dedicated and experienced team of professionals who skillfully stick-handle Government to Government opportunities in emerging markets, 2) by expanding and deepening CCC’s relationships with financial institutions, insurance companies, and export-credit agencies globally, and 3) by constantly seek out innovative and creative financing solutions that add to CCC’s toolkit in seeking financial close of the projects CCC is supporting.  

BMO CAPITAL MARKETS (April 2015 – June 2020)

Managing Director and Head Corporate Banking Asia (May 2018 – June 2020)  (dual role as Chief Executive, Singapore Branch – see below) 

The Head of Corporate Banking Asia reports directly to Global Transaction Banking, part of the Bank’s Corporate Banking Unit. As the head of the business in Asia I oversaw a team of commercial lenders, trade finance professionals, cash management and liability marketing professionals in China, HK and Chicago. The team of 15 manages more than 400 corporate accounts, with the majority of the team being based in China – where I spent 20% of my time. I assumed this role in May 2018. The Bank’s presence in China is strategically important for the Bank globally. Its purpose is to add value to global clients that have a presence in China. I was tasked to improve the efficiency and results of the business by focussing on generating referrals from North America and by improving returns on existing business.  

In this role, I sat on various Executive Committees in Asia, inter alia: BMO’s Asia Executive Committee (AEC), Asset-Liability Management Committee (ALM), Asia Risk Committee (ARC), Asia Operations Committee (AOC), Asia Private Banking Executive Committee, and Asia AML Review Committee.  

I oversaw an asset book of approximately $1.2bln with revenues in excess of $13mln.  

Managing Director, Global Trade & Banking, Asia (April 2015 – May 2018) (dual role as General Manager, Singapore Branch – see below) 

As Managing Director (MD), Global Trade and Banking, I oversaw the Bank’s global trade finance and correspondent banking activities in Asia (ex China). I led a multi-faceted team of relationship managers in various locations in marketing the bank’s trade finance and correspondent banking products. This is a multi-dimensional, multi-product business that includes lending foreign currency to banks in Asia (on a back-to-back basis with their customer-trade obligations), providing CAD cash management services, and lastly, selling a full suite of Trading, Fixed Income and FX Products. Responsible for revenues in excess of $20mln annually. 

General Manager, Singapore Branch (April 2015 – June 2020)  (dual role as Head of Corporate Banking/MD Global Trade – see above) 

In addition to the above, I served as the chief executive of the Bank of Montreal’s legal entity in Singapore and therefore accountable to the Monetary Authority of Singapore. In addition, I was executive-in-charge of BMO’s representative office in Mumbai India and accountable to the Reserve Bank of India. Both responsibilities have oversight by Canada’s Office of the Superintendent of Financial Institutions (OFSI) for all regulatory and compliance matters.  

In additional my daily oversight of the branch’s operations, I chaired the Senior Management Committee of the legal entity. There was approximately 100 staff in Singapore.  

Export Development Canada (2003 – 2015)

Regional Vice-President, Asia (Singapore) 2009 – 2015  

Led teams located in China, India and Singapore in providing financing and insurance solutions to Canadian businesses actively trading and/or invested in Asia. Client origination with multi-product solutions, including but not limited to foreign and local currency buyer loans, project finance loans, syndicated debt, working capital solutions, documentary credit insurance, trade receivables insurance, bonding and political risk insurance. Oversight of EDC’s expansion into Jakarta in 2015 and the developed markets of Korea and Australia in 2016. 

Chief Representative, India (New Delhi) 2005 – 2009 

Responsible for the development and implementation of EDC’s India market-entry strategy. I established two Representative offices, one in New Delhi and one in Mumbai. Business results increased five-fold from approximately 300mln in 2005 to 1.8bln in 2009. Client origination with multi-product solutions, including but not limited to External Commercial Borrowings (ECBs), project finance loans,  syndicated debt, working capital solutions, documentary credit insurance, trade receivables insurance,  bonding and political risk insurance. Well-established professional network established.  

Regional Manager, Asia (Ottawa) 2003 – 2005 

Supported EDC Market-based teams in Asia by facilitating financing deals through internal credit approval process at headquarters and structuring solutions for Canadian businesses operating in Asia.  

Scotiabank International 1997 – 2003

Sr. Manager, International Banking, Toronto 2003 

A member of the Bank’s Global Risk Management team providing oversight and adjudication on commercial credit applications received from branches in Asia.  

Commercial Branch Manager (Bangalore, India) 1999 – 2003

Managed Scotiabank’s Commercial branch in Bangalore, South India. Emphasis was on local Indian Rupee lending, local currency deposits, trade finance (LC issuance, advising, confirming, discounting bills, etc.). Branch employed 25 retail, commercial and trade finance professionals. 

Commercial Account Manager (Dhaka, Bangladesh) 1997 – 1999 

Jointly responsible for the opening of Scotiabank’s first branch in Bangladesh. Achieved through interacting with the local regulators and the Bank’s lawyers, architects, systems, and HR departments to successfully open Scotiabank’s first full-service trade and commercial branch. This included buying the assets and liabilities of another foreign bank (European) exiting the market. 

Peregrine Capital (Bangladesh) Inc. 1997 (6 months) 

Head of Sales & Trading 

Responsible for a team of equity sales and trading professionals, selling blue chip emerging market securities to foreign institutional investors. I worked closely with Peregrine Capital’s research team and provided market commentaries to foreign investors daily. (Licensed in the USA to sell securities – obtained my Series-7 in June 1997 in NY) 

CARE International, Bangladesh Dec 1992-Feb 1997  

Project Director, Integrated Food for Development Project (USAID-funded) Located in Dhaka, the Project Director was responsible for the implementation of USAID’s largest Food-For-Work Project globally. This $180mln food-aid project focused on improving the lives of those who benefited from the construction of roads and bridges across Bangladesh. Responsibilities included overall project coordination, managing the donor and project resources, management of six project offices, development and implementation of an effective monitoring & impact evaluation program, HR and resource planning, training, overhaul of the project’s management information system, and oversight of the engineering and technical requirements of the project.  

International Administrator 

Located in the town of Mymensingh, 80km north of the capital Dhaka, the Administrator oversaw a staff of 40 civil engineers and 15 field officers who were involved in the execution of a number of rural development projects that focused on poverty alleviation and women’s empowerment, including but not limited to, the construction of rural roads and bridges in northern Bangladesh. 

Canada Trust 1986 – Dec 1992 

Manager, Sales & Service (Ottawa, North Bay, Cornwall) 

Over the course of six years, managed the Sales and Service operations of three retail branches in Ontario (North Bay, Ottawa and Cornwall). This included all retail products, mutual funds, credit cards, personal loans and mortgages. Staff complement in each branch averaged 25 and went as high as 40 in Cornwall, Ontario.

Masters in Business Administration, Dal Univ.